Samsung may take another hit on the sales of iPhone 5 with the rumors that it will release the successor of Galaxy S3.

Korean Times cited some sources that Samsung is already prepping up for the release of Galaxy S4 to be held at the 2013 Mobile World Congress. The new Galaxy phone may push the screen dimensions to phablet territory - the report mentioned a 5-inch display and a similar design to previous Galaxy models.

Some of the rumored features of the Samsung Galaxy S4 are global LTE and it will come with the Exynos quad core processor (currently the US variant has swapped its quad-core for a dual-core chip to be LTE compatible).

There are some loopholes in the report of Korean Times. MWC usually takes place in February, and the report added that the Galaxy S4 could be out by March. Also, there is the opinion that 9 to 10 months in between Galaxy smartphone releases sounds a bit too short of an interval.

Samsung retorted to the rumors about the new Samsung smartphone through its Twitter account. Samsung questioned the Korean news agency the need to spread rumors and speculation as there is no need yet to release a new phone.

In the meantime, the South Korean tech giant has been doing its own promotion against the iPhone 5, referencing the Galaxy S3 in an ad that stated "The next big thing is already here."

Samsung claimed that "the next big thing is already here" referring to the Galaxy S3. The company boasts some of its amazing features such as a lot bigger screen, 4G/LTE connectivity, NFC through S Beam.

Before the release, Samsung also released a string of commercial videos highlighting the features of the device.

Earlier this week, some of the Facebook ads of the company became viral due to its direct attack and comparison with the new iPhone 5. The new ad campaign of the company garnered different comments from the public.

The new ads were prompted by the release of the new iPhone last week. Samsung's chief marketing officer Todd Pendleton said the "It doesn't take a genius" ad was not meant to insult iPhone owners.